Fraser & Neave Holdings completes RM181.6 million sale of 50% stake in Vacaron

SGX Filings

Sep 04

Fraser & Neave Holdings Bhd (F&NHB) has finalised the disposal of its 50% equity interest in Vacaron Company Sdn Bhd, a joint-venture with Frasers Property Holdings (Malaysia) Pte Ltd, to Tan & Tan Developments Bhd (TTDB).

The company said in a filing on Sep, 4 2026 that the interim purchase consideration was set at RM181.61 million following TTDB’s review of Vacaron’s pro-forma management accounts. F&NHB received the first tranche of RM136.21 million, representing 75% of the consideration, on Sep, 3 2026.

On Sep, 4 2026 TTDB provided an irrevocable bank guarantee for the remaining 25% of the consideration, payable on Jul, 3 2027. This fulfilled all conditions under the sale and purchase agreement signed on Aug, 21 2026, thereby completing the transaction.

Based on F&NHB’s audited accounts for the year ended Sep, 30 2025, the deal constitutes a 4.70% percentage ratio under Bursa Malaysia’s Main Market Listing Requirements, compared with the 5.04% ratio calculated earlier using Sep, 30 2024 figures.

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F&NHB received the first tranche of RM136.21 million, representing 75% of the consideration, on Sep, 3 2026.</p>\n<p>On Sep, 4 2026 TTDB provided an irrevocable bank guarantee for the remaining 25% of the consideration, payable on Jul, 3 2027. 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